South Africa's Sanlam to become co-promotor at Shriram AMC with 23% stake

Sanlam joins as co-promoter of Shriram AMC, infusing ₹105 crore to boost quantamental investing and product innovation in India

South African asset management giant Sanlam has entered India’s mutual fund (MF) market with a strategic investment in Shriram Asset Management Company Limited (Shriram AMC). The move cements Sanlam’s long-standing partnership with the Shriram Group and deepens its presence in India’s fast-growing asset management sector.

 

As part of the deal, Sanlam Emerging Markets (Mauritius) Limited (SEMM) acquired a 23 per cent direct stake in Shriram AMC through a preferential allotment of 38.89 lakh equity shares, infusing ₹105 crore in growth capital. This has increased the total promoter shareholding in Shriram AMC from 62.55 per cent to 71.17 per cent.  The partnership extends a two-decade relationship between the Shriram Group and Sanlam, which has already seen collaboration in financing, life insurance, and general insurance.

 

 

Sanlam joins Shriram AMC's Board as co-promoter

 

Shriram AMC’s Board will be reconstituted to include Sanlam’s representatives, reflecting the shift in co-promoter status alongside existing promoter Shriram Credit Company Limited.

 

“This partnership is more than capital—it’s a strong endorsement of our quantamental approach that fuses data science with fundamental insights,” said Kartik Jain, Managing Director and CEO of Shriram AMC. He added that Sanlam’s expertise will help strengthen Shriram AMC’s investment processes and broaden its product suite.

 

India a strategic growth market: Sanlam

 

Sanlam, which manages assets worth $80 billion, sees India as a “strategic growth market”, according to Carl Roothman, CEO of Sanlam Investments. “Our partnership with Shriram AMC reflects our commitment to co-creating investment excellence, particularly in emerging markets,” Roothman said.

 

The partnership aims to develop innovative investment solutions catering to customers across income segments in India’s evolving mutual fund landscape.

 

Building on existing momentum

 

The fresh investment builds on momentum from 2022, when Mission1 Investments LLC acquired a 23 per cent stake in Shriram AMC. Mission1’s Managing Partner and CIO, Gaurav Patankar, welcomed Sanlam’s entry as a co-promoter. “To have two promoters with depth, expertise and pedigree that have a long history of working together can only mean strong long-term value creation for shareholders,” he said.